Greece may sell off islands amid privatization scheme: report

By Stephen C. Webster
Thursday, August 23, 2012 12:32 EDT
google plus icon
A view from a Greek island. Photo: Shutterstock.com, all rights reserved.
  • Print Friendly and PDF
  • Email this page

The Greek Prime Minister Antonis Samaras said this week that the country is willing to sell off its uninhabited islands as part of a plan to accelerate privatization across the country, telling French newspaper Le Monde that it is the only way to save Greece.

The prime minister was quoted that Greece would still retain national sovereignty over any islands sold to private investors, “on condition that it doesn’t pose a national security problem.”

“It would not be a case of getting rid of the isles, but of transforming unused terrain into capital that can generate revenue, for a fair price,” Samaras reportedly said.

The country possesses about 6,000 tiny islands in the Mediterranean Sea, but only about 227 are actually inhabited. Samaras reportedly said that the Greece is finally willing to let some of the uninhabited islands be used for commercial purposes, which Greek lawmakers have long resisted.

The German government first suggested in 2010 that Greece sell off some islands, drawing outrage. In Thursday’s edition of Le Monde, Samaras painted a dark picture of a potential Greek exit from Europe’s common currency and insisted the government continue selling off assets and public lands.

Stephen C. Webster
Stephen C. Webster
Stephen C. Webster is the senior editor of Raw Story, and is based out of Austin, Texas. He previously worked as the associate editor of The Lone Star Iconoclast in Crawford, Texas, where he covered state politics and the peace movement’s resurgence at the start of the Iraq war. Webster has also contributed to publications such as True/Slant, Austin Monthly, The Dallas Business Journal, The Dallas Morning News, Fort Worth Weekly, The News Connection and others. Follow him on Twitter at @StephenCWebster.
By commenting, you agree to our terms of service
and to abide by our commenting policy.